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Listed apparel companies in Bangladesh struggled to capitalise on the massive devaluation of the local currency against the US dollar in fiscal year (FY) 2022-23 due to a hike in gas and electricity prices, and fuel and raw material costs.
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Most listed apparel makers log profit despite sluggish sales Spinning companies were in a better position in the July-December period. Star/file Two-thirds listed apparel companies either made a higher profit or managed to stay in the black in July to December despite sluggish sales, reflecting the recovery for the most export-earning sector in Bangladesh. Of the 44 garment companies listed with the Dhaka Stock Exchange, 14 firms took home more profit in the first half of the fiscal year compared to a year ago. They include Alhaj Textile, Anlima Yarn, Apex Spinning, Far East Knitting, HR Tex...